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provided, howevar~ tLst, prior to April 1, 1970, the Company ~haII :
i not be permitted to redeem any bond pnrsnant to thie aeotion ii sach
` ~ redemption is made in vonneation with or ie a reanlt o! any tr~?n~a~o-
tion whiah tLeretofore has been, or ia then being, or is thereaftsr
to be, msde involving, direc:tly or indireatly, the i~auanoe of eeaaritieg .
or the incnrrenoe of indebtednes~ for borrowed money at s ooet
~ ~ to the ComP~?nY (Qalculated in saoordanoe ~vith sooepLed $asnaial
' principlee ) oi le~ than? the annnal intereet re?te borne by tbe Beries
I bond~.
~oa 3. Z'be Coffipany covenantg and agrees ~hat eo loag as
any 8eriee I banda sre outgtanding her~under it ~vill in ~oh of the
• years 1.966~-1989, bnth indueive, not later t1~an Marah ].et ot eaoL sac~ .
~ year, depoait with t,~e Trastee as"and ior a sin~ing innd for Seri~
~ I bonds, moneys saff~aient (when i~n~arease~i bg the p~yment of aa
arued intere$t to April lst of snch ye~?r) to redeem, on aach Aprillet, ,
serieg I bonda in sn aggregate principal amo~nt equal to one per ~
~ cent (1 q'o ) of the total aggregate principal amannt of 8eries I bonds
anthentioated and delivered to and iaclnding snch April lat (ezolueive
j of Seri~ I bands in exchange or in snbstitution for whieh other `
~ bonde of Series I may l~ve been aathenticatsd or delivered under the
~ rnvisions of Sec~iions 11 14 15 17 and 1$ of the Original Indentnre
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~ and $ec~tion 7 of this Twelfth Snpplemental Indeatnre). The ag-
~ gregate princigai amonnt of Series I bonde to be redeemed in any
year as provided in t~is paragraph ia laexeinaf'ter called "the sink-
} ing fnnd p~yment" for ~nch year.
F On eaeh Bucsh April lst the Trastee ehall~ ingofar as it sLall he
pasaible for it eo to do, ezhanst the moneys in gaid einking fand by
applying the same to the redemption af Series I bonda. The redemp-
tion priae for Seriea I bondg ior the pnrposes of the einldng fnnd
arested by, t~ig Beation ahall be the prinaipsl smonnt thereoi ping
interest aoaraed thereon to the date fized for $neh redemption.
" Pravided, however, that in lien oi depo$iting -all or a part of ~nch
moneys the Comp~ny may satisfy the ainking innd payment, in whole
or in pt?rt, in any yesr by depositing ~vith the Trastee 8eriee I bonde
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